Sheaff Brock Investment Advisors LLC Raises Holdings in Micron Technology, Inc. (MU)

Sheaff Brock Investment Advisors LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 17.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,892 shares of the semiconductor manufacturer’s stock after buying an additional 2,400 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Micron Technology were worth $625,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Micron Technology during the 2nd quarter valued at $500,000. IHT Wealth Management LLC purchased a new position in Micron Technology during the second quarter worth about $1,056,000. Jacobi Capital Management LLC grew its position in Micron Technology by 368.8% during the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after buying an additional 2,600 shares in the last quarter. Captrust Financial Advisors purchased a new position in Micron Technology during the second quarter worth about $107,000. Finally, Sowell Financial Services LLC purchased a new position in Micron Technology during the third quarter worth about $204,000. Institutional investors own 81.16% of the company’s stock.

In other news, EVP Scott J. Deboer sold 30,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the transaction, the executive vice president now owns 122,667 shares of the company’s stock, valued at approximately $5,152,014. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the transaction, the director now directly owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The disclosure for this sale can be found here. Insiders have sold a total of 305,088 shares of company stock valued at $11,728,398 in the last ninety days. 0.69% of the stock is currently owned by corporate insiders.

A number of research firms have recently issued reports on MU. Zacks Investment Research cut Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. BidaskClub upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price objective for the company in a report on Wednesday, October 25th. Loop Capital reiterated a “buy” rating and issued a $48.00 price objective (up from $46.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $75.00 price objective on shares of Micron Technology in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $48.20.

Micron Technology, Inc. (NASDAQ:MU) opened at $39.90 on Tuesday. The company has a market capitalization of $48,425.18, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51. Micron Technology, Inc. has a 52-week low of $18.40 and a 52-week high of $49.89.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. Micron Technology’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) EPS. equities research analysts forecast that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Sheaff Brock Investment Advisors LLC Raises Holdings in Micron Technology, Inc. (MU)” was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another publication, it was illegally copied and republished in violation of United States & international trademark and copyright law. The legal version of this article can be read at https://www.com-unik.info/2017/12/05/sheaff-brock-investment-advisors-llc-raises-holdings-in-micron-technology-inc-mu.html.

About Micron Technology

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

What are top analysts saying about Micron Technology Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Micron Technology Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit